Chennai/Mumbai: R. Thyagarajan, founder of Shriram Capital Group, said the Indian company is getting close to merging its listed units, a move the firm hopes will help the non-bank financier boost its lending and insurance businesses. Shriram Capital, which counts billionaire Ajay Piramal and private equity firm TPG as investors, is considering combining with its publicly traded units Shriram Transport Finance Co and Shriram City Union Finance Ltd. Shares of Shriram Transport, which offers loans for new and pre-owned trucks, have surged ninefold since 2006. Once the merger is complete there will be one company in the business of lending to truck buyers and consumers, Thyagarajan said. Insurance businesses will remain as subsidiaries under the lending business, he said.

Source: Mint April 09, 2019 09:56 UTC